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Bank of Canada Mortgage Rates Announcement

Bank of Canada Announcement (July 2022)

Penticton Mortgage Rates Update – July 2022

Penticton Mortgage Rates Update - April 2022

In our early July Penticton real estate news update we let readers know that the Bank of Canada would make their latest announcement regarding the benchmark interest rate this week. They did so yesterday (July 13) and it was a relatively big one. But as usual, we’re here to filter mainstream media’s take on the matter so that prospective home buyers understand how the announcement may (or may not) impact their decision to get a mortgage this season. Let’s review.

What Buyers Really Need to Know About the July 2022 Bank of Canada Policy Rate Hike

Read More »Bank of Canada Announcement (July 2022)

Bank of Canada Announcement (April 2022)

Penticton Mortgage Rates Update – April 2022

Penticton Mortgage Rates Update - April 2022

In last month’s Penticton mortgage rates update we detailed the recent (at the time) Bank of Canada announcement regarding the Policy rate. In March they increased the rate from .25% to .5%. We predicted that the Bank would once again raise the cost of borrowing incrementally through the months ahead, with another projected this very month (April). This morning (April 13) they did just that, with a move that the Financial Post and others are calling a super-sized rate hike. Is mainstream media being dramatic? More importantly, should new buyers reconsider getting a mortgage through the remainder of the spring and summer of 2022? Let’s review.

What Buyers Really Need to Know About the April 2022 Bank of Canada Policy Rate Hike

Read More »Bank of Canada Announcement (April 2022)

Bank of Canada Announcement (November 2021)

Penticton Mortgage Rates Update – November 2021

Prior to Halloween, the Bank of Canada concluded October with an announcement regarding the prime interest rate. If you’ve been following along on our Penticton mortgage news blog, then you know that the announcements have had little impact on mortgage rates and the real estate market over the last year. But things are a little different now. Economic growth is occurring, and while some uncertainty remains, it’s clear that far brighter days are ahead for 2022. So what’s new from the Bank of Canada that may (or may not) impact your decision to buy a home before the ball drops on 2021? Let’s find out.

What BC Southern Interior Buyers Need to Know About the November 2021 Bank of Canada Announcement Regarding Borrowing Rates

Read More »Bank of Canada Announcement (November 2021)

Bank of Canada Announcement (September 2021)

Penticton Mortgage Rates Update – September 2021

Penticton Mortgage Rates September 2021

It’s “back to school” week across BC! All over the province parents, households, and teachers alike are scrambling to adjust their schedules and are planning for the season ahead. Amidst the chaos, the Bank of Canada just made their own scheduled announcement, about borrowing rates. New buyers are left wondering if their plans to get a mortgage before the year comes to an end is still viable. Have things changed since the Bank of Canada’s midsummer press release? Is it still the best time in recent history to buy a home in the Southern Interior? Let’s find out.

What BC Southern Interior Buyers Need to Know About the September 2021 Bank of Canada Announcement Regarding Borrowing Rates

Read More »Bank of Canada Announcement (September 2021)

Bank of Canada Announcement (Midsummer 2021)

Penticton Mortgage Rates Update – July 2021

The Bank of Canada (BoC) made their first official announcement of the season, and it’s a midsummer dream for buyers. If you are unfamiliar with the BoC’s press releases and the impact that they generally have on mortgage rates and the real estate market, we encourage you to gain some insight from our past articles (light reading!) on their announcements from June and May of 2021. Today, for the sake of our buyers out there (who just want to get to the beach) we’ll keep it succinct. But allow us some foreshadowing – it’s great news for you!

What BC Southern Interior Buyers Need to Know About the Midsummer 2021 Bank of Canada Announcement Regarding Borrowing Rates

Read More »Bank of Canada Announcement (Midsummer 2021)

Bank of Canada Announcement (Early Summer 2021)

Penticton Mortgage Rates Update – June 2021

Penticton Mortgage Rates Update - June 2021

The spring season is winding down. This not only coincides with summer vacation planning, but with the Bank of Canada’s latest announcement on economic affairs and their impact on borrowing rates. This is of significant interest to those who anticipate buying a home in the summer months. Should you move forward with your plans or hold-off in light of recent news? Let’s find out!

What BC Southern Interior Buyers Need to Know About the Pre-Summer 2021 Bank of Canada Announcement Regarding Borrowing Rates

Read More »Bank of Canada Announcement (Early Summer 2021)